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Alogent Enhances Offering for Banks’ Small Business Customers, as the New Vanguard for Distributed Capture

--- Sierra Xpedite Remote Deposit Automation to Feature Deployment, Additional Capabilities ---

Association for Financial Professionals (AFP) Annual Conference Booth 407-408 BOSTON--(BUSINESS WIRE)--Alogent Corp., a leading provider of enterprise deposit automation technologies for global financial institutions and processors, today announced its enhanced focus on small business in response to the market’s evolving demand for remote deposit capture. As a pioneer in deposit automation, with more than a decade of product development and implementation experience, Alogent is helping banks develop their small business banking customer base as the new frontier in distributed capture deployment.

“The missing link to superior banking customer service for small businesses has been the ability to extend real-time, self-serve capabilities to the desktop. Doing so simplifies the workflow inside the office walls and eliminates the need to physically leave the office to make a deposit,” said Paul J. Citarella, executive vice president at Alogent. “By introducing an offering focused on small business, financial institutions can gain entry to this huge opportunity of more than 24 million small business banking customers in the United States,” he said.

Since Check 21 went into effect in October 2004, most small businesses have not been exposed to its benefits. Remote deposit capture, one of several technologies born in the post-Check 21 era, now allows the nation’s businesses to automate more cumbersome traditional deposit processes, saving time and reducing costs.

Alogent’s Sierra Xpedite® Remote Deposit Automation™ solution offers key features that enable financial institutions to extend these benefits to smaller businesses. These include:

  • A simple, web-based user interface and intuitive workflow that requires virtually no end user training
  • Real-time capabilities such as image quality analysis (IQA), duplicate detection and verification of deposit
  • Ease of deployment, managed entirely by Alogent, using a service oriented architecture (SOA) infrastructure
  • Enhanced, integrated security standards
  • Sierra Deposit Portal™, a customizable interface that facilitates additional reporting capabilities

In addition, Alogent has now integrated its remote deposit automation solution with lower-cost scanning devices from vendors including Unisys, RDM, Digital Check and Panini.

Without remote deposit capabilities, small businesses expend time, effort, and costs to prepare and process bank deposits, and to post them to A/R systems. The capture and storage of payment information, including receipts, purchase orders, checks, and payment coupons further consume time and resources. As with any manual process, a margin of error is inherent; the corresponding measures to resolve errors are time consuming, adding even more cost and inconvenience to the bottom line. Finally, traditional deposit methods call for regular trips to the local branch to conduct in-person deposit transactions. In addition to the hard-dollar costs and time involved in doing so, the small business may incur opportunity cost due to the resulting absence from the workplace.

According to BAI’s Small Business Payments 2006 research report, small businesses display strong demand for integrated payment and business management tools. Close to 10% of small businesses and SOHOS (small office/home offices) in the manufacturing, wholesale and retail sectors are already using RDC or have concrete plans to begin using it by the end of 2007.

Alogent is demonstrating Sierra Xpedite Deposit Automation solutions, including its next-generation remote deposit features for small business, at booth numbers 407 and 408 at AFP’s Annual Conference in Boston this week.

About ProfitStars

ProfitStars, a division of Jack Henry & Associates, Inc., provides best-of-breed solutions that improve the performance of financial institutions of all asset sizes and charters, and diverse corporate entities. These solutions facilitate revenue and growth, risk mitigation and control, and cost control and complement virtually any core information processing platform. Additional information is available at http://www.profitstars.com.

About Jack Henry & Associates

Jack Henry & Associates, Inc. is a leading provider of computer systems and ATM/debit card/ACH transaction processing services primarily for financial services organizations. Its technology solutions serve more than 9,800 customers nationwide, and are marketed and supported through three primary brands. Jack Henry Banking supports banks ranging from de novo to mid-tier institutions with information and transaction processing solutions. Symitar is the leading provider of information and transaction processing solutions for credit unions of all sizes. ProfitStars provides highly specialized products and services that enable financial institutions of every asset size and charter, and diverse corporate entities to mitigate and control risks, optimize revenue and growth opportunities, and contain costs. Additional information is available at www.jackhenry.com.

Statements made in this news release that are not historical facts are forward-looking information. Actual results may differ materially from those projected in any forward-looking information. Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated by any forward-looking information. Additional information on these and other factors, which could affect the company's financial results, are included in its Securities and Exchange Commission (SEC) filings on Form 10-K, and potential investors should review these statements. Finally, there may be other factors not mentioned above or included in the company's SEC filings that may cause actual results to differ materially from any forward-looking information.

SOURCE Jack Henry & Associates, Inc.

http://www.jackhenry.com

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